RIWI Closes Second and Final Tranche of Non-Brokered Private Placement Totaling $2.496 Million

Executive Summary

• RIWI Corp. closed the second and final tranche of its non‑brokered private placement, issuing 4,530,900 Units at $0.30 per Unit for gross proceeds of $1,359,270.
• Including the first tranche, total units issued amount to 8,322,220 for aggregate gross proceeds of $2,496,666.
• Proceeds will be used for general working capital, product development and commercialization activities.

Key Details

• Units Issued (Second Tranche): 4,530,900 Units at $0.30 per Unit → $1,359,270 gross proceeds.
• Total Units Issued (Both Tranches): 8,322,220 Units → $2,496,666 total gross proceeds.
• Unit Composition: Each Unit = 1 common share + ½ of one Common Share purchase warrant.
• Warrant Terms: Right to purchase one additional share at $0.50 per share for two years from closing; acceleration clause if TSX‑V price ≥ $0.75 for 10 consecutive trading days, allowing expiry acceleration to 30 days after notice.
• Statutory Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period under securities law.
• Insider Participation: Insiders purchased 614,400 Units; transaction qualifies as related‑party under MI 61‑101 and does not exceed 25% of market capitalization.
• Finder’s Fees Paid: $57,312 in cash commissions (6% of gross proceeds from subscribers introduced by finders).
• Use of Proceeds: General working capital and corporate purposes, including continued product development and commercialization activities.
• Closing Conditions: Subject to final acceptance by the TSX Venture Exchange and customary closing conditions.

Notable Quotes

• “The successful completion of this financing provides us with the necessary capital to accelerate our product development roadmap and expand our market presence,” – Greg Wong, Chief Executive Officer.